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By Using Consumer Choice Theory,explain Why Diamonds,which Are Not Necessary

question 31

Essay

By using consumer choice theory,explain why diamonds,which are not necessary to sustain life,are expensive,whereas water,which is necessary for life,is not.


Definitions:

Topics Areas

Specific subjects or themes that are covered within a broader general topic.

Solicited Proposal

A proposal requested by an organization or individual, often in response to a specific need or project outlined in a request for proposal (RFP).

Prefatory Parts

Introductory sections of a document or book that provide background information or summarize its contents.

RFP

Request for Proposal, a document that solicits proposals, often made through a bidding process, by an agency or company interested in procurement of a commodity, service, or valuable asset.

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